Liquidating trust My free wep camcht
However, if they are “subsequently utilized to further the control or profitable operation of a going business on a permanent continuing basis, they will lose their classification as trusts for purposes of the Internal Revenue Code”. Generally, granting to a trustee incidental business powers to prevent the loss of the value of distributed assets will not turn a liquidating trust into a corporation.
In general, during the examination of a taxpayer’s classification of the entity as a liquidating trust, the IRS will engage in a two-step analysis.
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